What documentation is the franchisee required to provide to Face Foundrie in conjunction with the EFT authorization?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
At least thirty (30) days before opening the Facial Bar, Franchisee shall provide Franchisor with Franchisee's bank name, address, account number, and a voided check from Franchisee's bank account.
Franchisee shall also execute an Electronic Funds Withdrawal and Credit Card Authorization, which is attached as Exhibit D to this Agreement (which also includes a credit card authorization in favor of Franchisor authorizing Franchisor to charge all amounts Franchisee or its affiliates owe to Franchisor under this Agreement or any other agreement between Franchisee and its affiliates and Franchisor), and give copies to Franchisee's bank and to Franchisor.
Franchisee shall immediately notify Franchisor of any change in Franchisee's banking relationship, including changes in
account numbers.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, at least 30 days before opening their Facial Bar, franchisees must provide Face Foundrie with specific banking information to facilitate electronic fund transfers. This includes the franchisee's bank name, address, and account number.
In addition to this information, the franchisee must also supply a voided check from their bank account. Furthermore, the franchisee is required to execute an Electronic Funds Withdrawal and Credit Card Authorization form, which is included as Exhibit D to the Franchise Agreement. This authorization allows Face Foundrie to charge any amounts the franchisee owes under the Franchise Agreement or any other agreement between the franchisee and its affiliates and Face Foundrie.
The franchisee is obligated to provide copies of the Electronic Funds Withdrawal and Credit Card Authorization to both their bank and to Face Foundrie. It is also the franchisee's responsibility to immediately inform Face Foundrie of any changes to their banking relationship, including any modifications to account numbers. This ensures that Face Foundrie can continue to collect fees and payments accurately and without interruption.